HomeMy WebLinkAboutReso 1998-19166 RESOLUTION NO. 19166
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA
VISTA APPROVING AN AGREEMENT WITH THE FIRM OF
SUTRO & CO. TO PROVIDE FINANCIAL ADVISORY SERVICES
RELATED TO FINANCING SPECIFIC CAPITAL PROJECTS AND
REFINANCING SEVERAL ASSESSMENT DISTRICT DEBTS, AND
AUTHORIZING THE MAYOR TO EXECUTE SAiD AGREEMENT
WHEREAS, there are three capital projects that require some form of borrowing in order
to allow for a timely completion: (1) the Animal Shelter, (2) the Corporation Yard and (3) the
Library Automation Project; and
WHEREAS, in addition, due to historically low interest rates, it may now be
economically feasible to refinance several outstanding assessment district debts; and
WHEREAS, after following the City's consultant selection process, staff is
recommending that the firm of Sutro & Co. be hired to act as the financial advisor for these
potential financing projects.
NOW, THEREFORE, BE IT RESOLVED the City Council of the City of Chula Vista does
hereby approve an agreement with the firm of Sutro & Co. to provide financial advisory
services relating to financing specific capital projects and refinancing several assessment
district debts, a copy of which shall be kept on file in the office of the City Clerk as Document
No. C098-089.
BE IT FURTHER RESOLVED that the Mayor of the City of Chula Vista is hereby
authorized to execute said Agreement for and on behalf of the City of Chula Vista.
Presented by Approved as to form by
R Powell ny
Finance Director
Resolution 19166
Page 2
PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista,
California, this 15th day of September, 1998, by the following vote:
AYES: Councilmembers: Moot, Padilia, Rindone, Salas and Horton
NAYS: Councilmembers: None
ABSENT: Councilmembers: None
ABSTAIN: Councilmembers: None
ATTEST:
Be~e~rly~.Auth~let, City Clerk
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO )
CITY OF CHULA VISTA )
I, Beverly A. Authelet, City Clerk of Chula Vista, California, do hereby certify that the
foregoing Resolution No. 19166 was duly passed, approved, and adopted by the City Council
at a regular meeting of the Chula Vista City Council held on the 15th day of September, 1998.
Executed this 15th day of September, 1998.
thelet, City Clerk